Flipside Daily Mover: ANT
A coin per day, making big moves
ANT Refines Product Offerings in New Release
June 21, 2019
ANT FCAS climbed 7.66% over the last 7 days. Fundamentals are up across the board including a 13-point (1.43%) spike in Developer Behavior, 99-point (23.13%) jump in User Activity, and a 53-point (15.5%) rise in Market Maturity. Price is down -27.62% over the same time period.
This Is How We DAO It
Aragon has constructed an application on top of Ethereum that enables users to create and manage Decentralized Autonomous Organizations (DAO). The goal is to enable users to create global collectives on the blockchain, that are free of bureaucratic red-tape and empower shareholders to have real impact on the group’s directives. By digitally establishing financial and governance functions of the organization at inception, companies and communities can bypass expensive and burdensome administrative intermediaries while also incentivizing participation from shareholders.
The project’s fundamentals have spiked over the last 7 days, as the team rolls out enhancements to their DApp and the ANT token sees increased utilization. On June 14th, Aragon released Aragon 0.7.4 containing enhancements to user-identity management in the application. The team also revealed details about Aragon Fundraising, a new app built on top of Aragon used as “an easy way to raise funds through an emergent organization” that will be released this summer.
Additionally, the ANT community recently voted to participate in the Edgeware lockdrop. Edgeware is a crypto project vying to become the first smart contract parachain on Polkadot, and to seed their network they are offering EDG tokens for amounts of ETH time-locked in specified addresses. With Aragon shareholders voting to participate, it is exciting to see a crypto community supporting the creation of another blockchain, albeit with the benefit of receiving tokens for ETH that would otherwise be sitting idle.
🌶️ Hot Take
The potential that DAOs have to change the way humans organize, from communities to corporations to governments, is immense and we are only starting to see the true impact. However, because of their nascency, aspects of DAO governance are imperfect. Whales can manipulate voting by buying up large amounts of governance tokens, and driving community participation can be difficult.
Speaking on the subject to CoinDesk, Aragon One CEO Luis Cuende revealed ways to counteract nefarious actors, such as “lock” mechanisms, where users who have staked their assets on a network for prolonged periods of time receive additional voting power. Regardless of how it is achieved, DAO voting mechanisms will need to continue evolving before they are ready for mainstream adoption. Aragon is leading the way to ensure this happens.
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